Build-Ready Development Lot with
For Sale
$125,000
1300 Lancaster Avenue, Reynoldsburg, OH 43068
Build-ready lot with existing 3-car garage and public utilities for streamlined development at 1300 Lancaster Avenue.
Property Size904 SF
Lot Size0.16 Acres
Price / SF$138.27
Days on Market207
Property Features for 1300 Lancaster Avenue
General Information
Standard status
Active
Size
904 SF
Lot size
0.16 Acres
Property subtype
Land / Land
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$766
Building Details
Year Built
1945
Listing Agency:
RE/MAX Partners
Listed By:
Gabriela Jacqueline Ramirez · License #2025000941
(614) 377-3978
Source:
Compass
Added: Mar 23
Changed: Oct 11
Last Checked: Oct 15 at 1:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Partners
Investment Insights
Based on property information with market context.
This build-ready parcel offers a convenient foundation for new development, with an existing 0.16-acre site already improved by a 900 sq. ft. 3-car garage. The on-site structure can support interim use for a workshop, car enthusiast setup, or high-value storage while you finalize plans and construction.
Located at 1300 Lancaster Avenue in Reynoldsburg, the property sits within Historic Old Reynoldsburg. Public remarks indicate the site is steps from local history, parks, and dining, with the surrounding area characterized by a quiet, mature landscape.
For buyers looking for a manageable path from site preparation to project execution, the presence of public utilities available on-site can help reduce delays tied to utility coordination. The combination of a build-ready lot and an existing, functional garage makes the property practical for developers who want immediate on-site utility without losing time, and for owners who want usable space while their project comes together.
Located at 1300 Lancaster Avenue in Reynoldsburg, the property sits within Historic Old Reynoldsburg. Public remarks indicate the site is steps from local history, parks, and dining, with the surrounding area characterized by a quiet, mature landscape.
For buyers looking for a manageable path from site preparation to project execution, the presence of public utilities available on-site can help reduce delays tied to utility coordination. The combination of a build-ready lot and an existing, functional garage makes the property practical for developers who want immediate on-site utility without losing time, and for owners who want usable space while their project comes together.
Key Highlights
- Build‑ready .16‑acre lot at 1300 Lancaster Avenue in Old Reynoldsburg
- Existing 900 SF 3‑car garage on‑site for workshop, car storage, or high‑value storage
- All public utilities available to support development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,503
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,060
$210.1K
Cap Rate 7%
$150,043
$150.0K
Cap Rate 9%
$116,700
$116.7K
Market Conditions
NOI Build-Up for 904 SF
Gross rent
$19.7K $21.84/SF
− Vacancy
−$4.7K −$5.24/SF
EGI
$15.0K $16.60/SF
− OpEx
−$4.5K −$4.98/SF
NOI
$10.5K $11.62/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,060
Cap Rate 7%
$150,043
Cap Rate 9%
$116,700
Alternative Uses
Best Use
Warehouse
$182.2K
$159.4K – $212.6K
NOI $12,754 @ 7.0% cap · market cap 10.20%
Second Best
Industrial
$150.0K
$131.3K – $175.1K
NOI $10,503 @ 7.0% cap · market cap 8.40%
Theoretical Best
Specialty Retail
$184.3K
$161.3K – $215.0K
NOI $12,901 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Build-ready lot with existing 3-car garage and public utilities for streamlined development at 1300 Lancaster Avenue.
Where is this residential land & home lot located?
The property is located at 1300 Lancaster Avenue Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Build‑ready .16‑acre lot at 1300 Lancaster Avenue in Old Reynoldsburg; Existing 900 SF 3‑car garage on‑site for workshop, car storage, or high‑value storage; All public utilities available to support development
